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1 1 TOWGBT GLOBE '.' TONIGHT 1 ! !lì t-j Fiotti Investors Guaio, Ausrust, 1!)22 (Continued Doni Caledonian of Sat., Oct. 14) The two Durant cars have a bijf field aboard as well as at home, inasmuch as foreijrn as well as domestic users aie appreciative of automobiles of merit at . righi priees. Althou;h there aie in the world to-day approx ìmatcly 12,1)00,000 ?asoline-piopelled vehicles, mpie than 10,000,000 of these vehicles are in the United States and tlie remaininp 2,000,000 scatterei! ali over the world. In 1021, few or than -10,000 niotor car and trucks were ex porteti troni tliis country thoush virtually the entire voi'ld's production was in the United States. With the improved rondition.-- now prevailing in Europe and else v.'nere throujjhout the civilized world, however, the ex port business in such cars as the Durant "Four" and "Six" is sure to rea eh larpe pioportions within the next few months. "Star" Car a Keen Rivai of the Ford Sirnilarly, the instantaneous popularity of Mr. Dur ant': latest creation, the "Star" car, which is beiiiR tuineil out at ali the Durant divisional plants, and in especially la!'j.',e (juantity at its New Jersey plant, where it is expeeted to produce 12,50(1 of tjjese cars monthly, or at the rate of 1"0,000 pur annuiti, has demonstrated the ellicacy of the assembline operation of this low pricetl car, which is to be retailed at $.''48, the price of the ubiquitous Ford. While the contemplateci Kitfantic quantity produc tion of the "Star" cars will piobably cause a battle royal between the Ford family and William C. Durant for supreniacy as the world 's ureatest makers of low-priced motor cars. t li ere is evidently roo:n for both the "Stai'" and the "Ford" and the ability of Mr. Durant to supply the market with the "Star" car, in successful competition with the "Ford" is not questioned anywhere, despite the enornious present capacity of the Ford Motor Com pany, amounting to 1,250,000 cars and trucks annually. Thoush the present capacity and estimated output of the Durant divisionai plants for next year is only a lit tle more than a l'ourth of the Ford company's pre.-ent capacity, the production of the Durant company on "Si.ais" as well as on Durant "Fours" and "Sixes" is likely to increase by leaps and bounds while it.? sales, because of the demonstrated success of the "Star" as well as of it- Durant cars, aie certain to make new high reeords every nionth. from this time forward. Durant Companies' Achievement to Date Well-Nigh Miraculous In order to apprcciatc thorouf.'hly the remarkably briuht outlook for Durant Motors, Inc., and its divisionai companies, ali six of which are controlled and operated by Duiant Motors, Inc., it is only necessaiy to plance at the reniaikable record which this enterprise has al ready made for itself an achievement unprecedented in the history of the automobile tiade or oi any other industry, in such an extraordinarily brief period. . Durant Motors, Inc., was organized in January, 1921, at a time when the business world was stili .surferinff from the ell'ects of the post-beljum deflation. Within a little moie than a year, it has financed the purchase and constiuction of six complete and well-equipped as sembly 5lwits..advantag'eously located with a capacity of :j.';2,5l)0 automobiles a year. Within this period, it has desig-ned and developed a complete line of Durant four and six-cylinder niotor cars, every model enjoying a splenditi reputation and being in such active demand as to place the company's sales sixth from the highest in virtually ali portions of the country, while also en terinir into contract with the Star Motor companies of New York, Michigan and California, to produce, in its various divisionai company plants and under the sanie management, for four-cylinder. five-passenger cars known as the "Star" line, which is the special design and product of Mr. Durant himself. The Durant four-cylinder car was first rhòwn to the public, accordine to a previously-arrang-ed schedule, on August 1, 1921, and actual production of this car was beg-un in October, 1021. On December 29, 1921, a ship ment of 500 Durant cars was made from the Long; Island City plant to a California retail dealer the largest shipment of automobiles over made and the greatcst traiis-continental shipment of any single commodity on record. At the dose of business on March 31, 1922, when this enterprise had been in production only f months, it had nianut'aetured and shipped 10,814 ers a larger num ber than had been turned out by any automobile manufac turing' concern in the history of the industry during a first six months' operatine period. AH This Accomplished in a Little More Than a Year In the first quarter of this year, the Durant enter prise had produced 7,4 Hi cars, and, although its output l'or .lune is not yet known, its actual production to May "1, reached 8,5(;; vehicles and it is making- desperate ef forts to keep pace with the veritable avalanche of or dci's which is descending upon it. "Participating Contracts" with Divisionai Companies Very Valuable The paicnt corporation, Durant Motors, Inc., has so called "participating contracts" with ali of its six di visionai companies, representing its proportions of the rarnings of these a sodateti companies valued on a basis of three years' net profits, conservatively estimated at $20,988,000. Stock of Divisionai Companies Convertible Into Durant Motors Stock Durant Motors. Inc., began with an authorized capi tal stock of 1,000,000 shares, having no par value, of which about 700,000 shares are now outstanding. This stock, the first i.sue of which 500,000 shares, was orig nally offered for private subscription among the loyal Jriends and supporterà of William C. Durant at $12 and $12.50 a sitare, is now commanding $40 in the New York Curo Market, where it is traded in activity every busi ness day, as one of that "outside securities" market's principal listed issues. This authorized stock issue was increased last. week to 2,000,000 shares of no par value stock, in oi'drr to make provision for the conversion of the outstanding stock of the various divisionai com panies into the parent corporation' shares between August 1, 1924, and August 1, 1920, on bases of $:!() to $40 i ; ha re for Durant Motors, Inc., stock. For example, the holders of the stock of the Durant Motor Company of Indiana, Inc., of whose .'100,000 shares, having a par value of $10, 240,000 shares have been au thorized, are to have the privilegi; of exchanging their stock for the stock of the Durant Motors, Inc., within the two-year period mentioned ahove on a ha. is of $"() a shai'e for Durant Motors, Inc., stock. Durant Motors Has Assets of $33,334,321 Aside from its liability for its outstanding' capital stock, Durant Motors, Inc., has only current Jiabilitie.-. Its assets, as of Aprii .'!(), 1922, are set forth as follows: ASSETS Fixed investments $ 50,285 Less reserve 4,900 Paiaicipating contracts Investments in and advances to alli Capital s.tock Current account $ 15,.'Ì84 20..'!88,00O d companies: 10,000 247,002 Listed securities Cash,: In banks ÌJIV'C;. l'etty cash 4,500 Notes receivable (seeured) 4,500 Loans seeured Accounts receivable Sundry accounts 250,19:! Cash advance :i,7 li! Subcriptions to capital stock Accrued accounts receivable Material and .supplica l'repaid expense: Tools, jigs, dtes, etc. 5(',,(;9S Insurance 12,710 Total asseta 2,559,002 4,. '152,741 l,047,2fi. 1.0447,2;.') ì.'ioo.ooo i.cc.o.ooo 25,940 54,757 2:10,147 188,272 ;9,415 ?:!.'!,';ri4,:i24 Success Due in Large Measure to Genius of Durant One of the strongest underlyiny; reasons for the pojiularity of both the output and stock of Durant Mot ors, Inc., is to be found in the universally recognized ability of William C. Durant a- a manufacturer and dis tribuir of automobiles, which has been demonstrated so efl'ectively during eighteen years out of the approxi mate score of years in which ih automotive industry has attained the growth which now entitles It to rank a.-: one of the world's greatest industries. . William C. Durant, whose middle nume is ("rapo, whicli was the family name of hi., mother, wlio was a daughter of II. II. ('rapo, Civil v.ar governor of Michi gan, was born in Doston in llis bu.-ines- career began in bis prandfalhcr's lumber nidi. After several years of experien'ce in that trade, he hegan to speeialize in business efhciency woi'k, the cu ring- of ailing enter prises, along the lines which later made Henry 1'. Davi son, of the celebrated galaxy of I. 1'. Morgan & Co., partners, famous 'ien he undertook these labors on a Jarge scale. When Mr. Durant was only 25 years old, he succeeded in extricating the Flint, Mieli., waterworks from a serious financial difliculty and he later followed up this notahle achievement with other business troubli1 cures. Then he launched out in business for himself, as a manufacturer of carriages and other horse-drawn vehicles, including small road carts, and increased the output of the company manufacturing these lattei- vehi cles to 100,000 annually before the motor car became a competitor. His Entrance Into Motordom Carne With Organization of Duick Motor The gieat possibilities of the automotive industry dawned upon nini about 1900 and he forthwith began ,0 devote part of his road cari plant to the making of "horseless carriages," a short time before Henry Ford entered the business. He then took over the plant and business of the liuiek Motor Company, which to-day is one of the three largest buildcrs of popular priced motor cars in the world. This company, however, made only 28 cars in the tir: t year of its existence, 1904, and about ten times that many in its second year. Then Ile Formed Giant Merger Known as "General Motors" Thereupon Mr. Durant's great organizing ability began to play an iniportant part in bis career. He ;avv immediately the great advantage to be obtained thiough a consolidation of several of the small motor car companie: , each with its expensive overhead charges, wasted nergy, etc. The Duick, Oldsmobile, Oakland and Cadillac Companies soon joined him in this idea and later the "combine" thus undertaken was added to by one or two other concerns. This was in 190(1. A year later, before the consolidation of the- companies was definitely established, the panie of 1907 held back the progiess of this amalgamatali and temporarily handi capped the entire automotive industry. l'i October, 1908, however, the consolidation thus tentativeiy formed was launched under the name of the "General Motors Corporation." This company expanded rapidly, necessita tine considerable additional finaneing which was pio cured thiough public oirering of the stock. Wall Street, as a whole, believed in the "General Motors Corporation," but some skeptics indulged in so much short selling :ts io lepress the price of its stock heavily for sometime. Dur ing this period of the stocks depresMon, however, Mr. Durant and his followers bowed their faith in the pro ject by buying in every available share at low prices. (From the Investo rs' Guide, Aupust, 1922.) This story of Durant achievements concluded in Tuesday's Caledonian. The success with which Burch E. Greene a year ago brought the necesaly capital into the Cadillac and Packard Service Station of Burlington to build a business and established it as one of the most progressive automobile com panies of the State, speaks well for his merchandising' and finaneing ability. The extreme popularity of the Star and Durant Cars assures a largo volume of sales. The :atisfaction which the cars are giving after over 18 months continuai use proves the stabilii y of their sale." Mr. Durant's connection with the cars is to a great many a sufficient gtiarantee that the Consolidated Auto Sale Co., Inc., will be a leader in the automobile field of Vermont. The stock of the Consolidated Auto Sales Co., Inc., is a pood investment. Consolidated Auto Sales Co., Inc. PARLORS, VAN NESS HOUSE Burlington, Vt. P.O. BOXG03 Telephone 2355 CLIP COUPON and check the featuro interested in- BURCII E. GREENE, Van Ness House, Burlington, Vt. I ani interested in securing the dealer franchise for Durant and Star cars for the following terri- tory Address ! Name I would be glad to have you mail me full informa tion ì-egarding investment opportuni! y in Consoli dated Auto Sales Co., Inc. Name Address Dr Tloss office will be clnsed from October 3 to October 27. Advrrtisement. 84-Oct 27 Mrs. B. E. Doyle has returned from Boston where she has been taking special tiaining under Mrs. Lilla Viles Wyman in modem training of children, also in ali the modem lanees. Arsene Gicnier loft Thursday for New York city where he has takon a position with an automo bile concern. Miss Khea C. Gilson, a teachor in the schools of Springfield, this state was in St. Johnsbury last week to attend the teachers' con vention and remained until Sunday with her parents Mr. and Mrs F. C. Gilson. Miss Gilson is organiz ing a troop of Girl Scouts in Siiringfield. Mr. and Mrs. Thomas McCut cheon of Noi'thfield have been the guests foi- a few days of Mr. Mc Cutcheon's mothen-, Mrs. John W. McCutcheon. Mr. and Mrs. Etigene Page -and Mi', and Mrs. Ilarlcy Page spent the week end in Albanv. Mr. and Mrs. C. Ili Merrill of l.owell, Mass. are ihe guests of Mr. Meirill's brother and family, C. E. Merrill of Carv Place. The date of the BPW bazaar has been changed from November 4 to November .'!. Advertisement. Mr. and Mrs. Charles J. Hamb lett of Nashua N. H., are spending a few days at the St. Johnsburv House. Benjamin Cormier who has been working for the E. T. and H. K. Ide company has returned to the Fairbanks factory. lìev. Fr. Edward' Marion of Burlington is taking the place of the Rev. J. A. Drouhin who is naving an extended vacation from his parish work at Notre Dame owing to ili health. He has gone to Europe on a year's visit. I liev. Ir. J. A. LaKoc has been transferred from Burlington to take the place of liev. Fr. Max Mooney at Notre Dame. Thomas F. Phillips left Tuesday moi'in'ng for New Orleans to at tenti the American Legion con vention. Wilfred Decoteanse is taking care of the Shoe Sbine par- lor. I The Searchiight Club wm its annual saie .ina caie-iena per Thursday, November 9. vertisement. Mr. and Mrs. John Coombs and son, Percy Coombs left Saturday for Springfield, this state where they are to make their home. They bave been residente of St. Johns bury the past 1.'! years., Mr. Coombs, a foreman on the St. Johnsbury and l.ake Champlain railroatl. He has aecepted a jiosi tion as ioailinaster of the Spring field Electric Bailway ("o., and his son will be eniployed by the sanie company. The body of Miss Mr.rv Marvis of Boston was brought to St. Johnsbury to the home of her brother, Thomas Belanger of Port land street, and the l'uner.d was held Saturday morning from Notre j Panie churcli. jiunal was made in Mt. Calvary cemetery. Mrs. Margaret N. Heywootl was in Burlington Thursday and Fri tlay to attenti the eighth annual con ference of social work. Mrs. Hey wootl was elected a member of the executive committee. Industriai classes in sewing, tliessmaking, crocheting and knit ting will begin at the Woman's clubhouse Tuesday evening. Ar rangements can be made at that time for classes in photography, dancing and miilinery. Advertise ment. Dr. F. E. Farmer was elected vice presidcnt of the Vermont State Medicai society at the annual meeting which closed a Iwo days' meeting in Burlington Fritlay. Dr. W. G. Ilicker is secretary of the society antl heatls the executive committee and the committee pn publieation. Di. li. H. Miltimore was one of the nominees to the state board of medicai registration. A daughter was born at the Fitch Maternity hospital Saturday to Mr. antl Mrs. Frederick W. Mar shall of 02 Lafayette Street. Twenty friends of Frank G. Muliiken gatheretl at his home on Spring Street Friday aftei'noon to liei)) him celebrate bis 12th birth tlay. Games were played and a birthday spreatl servetl by Mrs. Muliiken assisted by Mrs. Boy Potter. The young host received many gifts. IVs ioasted. This one extra process gives q detightful quality that can not be duplicateci hold The Ladies' Circle of the UNIVEKSALIST CHURCII will meet with Miss Lucy F'rench, 5 Cherry Street, Tuesday afternoon at three o'clock. A eiil's great atlventure between dawn and (lawn is depicted amaziiiglv in BOiìEUT '.. LEO.VARD'S presentation of MAE MI TRRA Y Augmested Orchestra: Six Musicians A TIFFNAY PRODUCTION in 9 gorgeous reels. This U Special at REGULAR PRICES TONIGHT PLEASE U TONIGHT 3S .i!l!!;!:!l!l!IIN!!!!l!E!ll!l!l!E:!ill!!!ii. P EX A D Of Good Values MISS DUPONT Universal's Driìliairt Star in "The Wonderf u! Wife" M Episode 2: "PERILS of the YUKON" Lobby Vemon in "PARDON 2LY GLOVE" 2 irei Coiv.t-tlv m Saturday HERBERT I1AWLINSON in "THE BLACK BAG M Handj Andy Says: Hunters are most s"ccessful in bagging the game, when they take good equipment along. The best kind of marksman cannot hope to shoot right with a poor guu or ammunition, but you'll notice that .iood hunters come bere for their fire arms, ammnitiori and other hunting ietUÌrements. Go well preparetl, fellovvs, antl you'll have no disappointing tales to teli when you get back. Come in antl talk over with us, the trip you are planning. We will be glad io givo you some helnftil points and above ali. we va ut 1o show you vhat a fine lot of Hunters' noeds we have ready new. TRAPPERS!! This is your golden opportunity. We are overstocked on traps and have been for some time. To re duce, we otTer these traps to voa at iust HALF W IIAT THE MAR KET PRICE IS TODAY. doz. each 0 Oneida Jump S2.2.") .20 No. No. 1 Oneida Jump 1-2 Oneida Jumn Oneida Jump Oneida Jump Oneida Jump Blake & Lamb No. !1 Doublé .Taw No. 01 1-2 Doublé .Taw No. No. No. No. No $2.2.-. .$2.75 ?r..on $.voi $r..oo $c.oo tn.oo .r.o .r.o .no .co .4'r ; Warmer Underwear for Comfort Every Wanted Sizc and Weight at $1.50 to $5.50 YOUR personal comfort during chilly autumn weather demands warmer undergarments and our fine, big, new stocks eni brace every style and weight you could want. Comfortable, serviccable Union Suits cut to fit perfectly; of fine-quality yarns; faultless in making and finish. Sizes to it' every man. Fine Perfect-Fitting Un ion Suits are Specially Featurcd $1.50 IN THE NEW FURNISHINGS THAT MEN WILL WANT FOR FALL T1ES, SIIIRTS, UOSE, PAJAMAS, 1IATS AND CAPS WE PRESENT TUE LATEST STYLE-IDEAS AT THE LOWEST PRICES FOR EQUAL (QUALITY The Peck Co.' HARDWARE j ST. JOHNSBURY, VT. C9 Railroatl St. Tel. 412-M ''ilHIllllillllllliHIiHiHIIilli;!!!!!!!:!"' iB,mfi4uniiiiumiuammja ADLERjt ROCHESTER CLOTH2S CITIZENS a'vNK BIjOCK.ST.cJOHN5BI;RYTS FASHION PARK CLOTIIES An Exceptionàlly Attractive Program Corning at the Please-U Theatre On the evening of October 19th there will be a program of the highest order at the Please-U theatre. Lloyd Homer Simpson, Dramatic Reader and Impersonator, will give a recital assisted by Miss Catherine M. Morrison, soprano soloist, and the K. M. C. Trio, comprising Miss Jennie King, pianist; Marshall Miltimore, drums, and William Chambers, violinist. Mr. Simpson is a reader of rare ability and power. Miss Morrison always charms her audience and the K. M. C. Trio are growing in popularity with every appearance. Under the auspices of the locai Baptist church this most excel lent program will be given for the extreme ly low7 price of 25 cents admission. "BETTER CITIZENSHIP FOR WOMEN" ADDRESS BY Mrs. Charles L. Stuart OF LYN DON VILLE Business and Professional Women's C lub Tuesday Evening, October 1 7 At 7.30 Legion Aui!iai y Clubrooms, Rn il road Street St. Johnsbury Teachers will be the guests of the club. Mrs. Stuart was active in franchise for wo mcn in the West and has dono much for the movement in Vermont. Special IJusiness Meeting Preceding Mrs. Stuart's address hen the Club will take action on permanent clubrooms.